B
Ambetter of Magnolia Inc
Rating Date
June 2024
NAIC
Classification
Risk Adjusted
Capital Ratio #1
Risk Adjusted
Capital Ratio #2
Total
Assets
Capital
Health
Premiums
Net
Income
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Major Rating Factors: Good overall results on stability tests (6.8 on a scale of 0 to 10) based on consistent premium and capital growth in the last five years but rapid enrollment growth during the past five years and a decline in the number of member physicians during 2022. Rating is significantly influenced by the strong financial results of Centene Corporation. Fair quality investment portfolio (4.5). Excellent profitability (9.2) with operating gains in each of the last five years.
Other Rating Factors: Excellent overall capitalization (8.5) based on good current risk-adjusted capital (severe loss scenario). Moreover, capital levels have been consistent in recent years. Excellent liquidity (7.0) with ample operational cash flow and liquid investments.
Principal Lines of Business: --
Licensed in: MS
Principal Enrollment Breakdown: --
Other Highlights
Medical Loss Ratio
Medical Expense
Per Member Per Month ($)
467
Provider Compensation ($000)
Capitation Pay
Fee For Service
0
Contractual Pay
Salary
Bonus
Other
--
Member Physicians
0
Enrollment
Total Patient Encounters
Physician
0
Non-Physician
Corporate Info
Group Affiliation
Centene Corporation
Investment Rating
CNC
Company Address
Centene Plaza
Saint Louis, MO 63105
Phone Number
(314) 725-4477
NAIC Number
15762
Largest Affiliates
C
Saint Louis, MO - Health
B
Saint Louis, MO - Health
B
Saint Louis, MO - Health
C
Burr Ridge, IL - Health
C
Saint Louis, MO - Health